Markets shudder on dashed inflation hopes; Dow falls 1,250

38 views – WXXV Staff – 2022-09-13 16:58:10

Markets Shudder On Dashed Inflation Hopes; Dow Falls 1,250
AP Photo: Julia Nikhinson

NEW YORK (AP) — Stocks tumbled to their worst day in more than two years Tuesday, knocking the Dow Jones Industrial Average down more than 1,250 points, following Wall Street’s humbling realization that inflation is not slowing as much as hoped.

The S&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.9% and the Nasdaq composite closed 5.2% lower. The sell-off ended a four-day winning streak for the major stock indexes and erased an early rally in European markets.

Bond prices also fell sharply, sending their yields higher, after…

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